Small Business Innovation - How to Develop an Innovation Strategy to Set Your Business Apart

Innovation in business is not a new concept. In fact,most people.
this is something that has been discussed openly forIdeas are important, but simply thinking of great
more than a hundred years. An example is the workideas will never be enough. Instead, it is the
of George Hormel, who in 1891 built a meatimplementation of these ideas that separates leaders
processing plant outside of his small town inin business from those who will simply follow what is
Minnesota. No one had heard of ham in a can, andalready being accomplished. An idea is a creative
this eventually became Spam, a canned meat productthought, whereas innovation as a business concept
that achieved an eighteen percent share during itsgoes past creative ideas and thinking and moves fully
first year on the market. Hormel believed ininto creating tangible goods and services that will
developing distinctive products instead of imitating bigimprove the global marketplace. An innovator's mind
competitors.never sleeps as they continue on their path to serve
Innovation is an ongoing mindset that allows you topeople and solve problems, adding value to the lives
look at the world different, focusing on what couldand experiences of their fellow man.
be instead of simply what is. The big idea behind thisBeing willing to fail, giving up traditional style thinking,
is that everyone has great potential, and it is thepursuing curiosity and imagination, and stepping
innovators that explore every possible situation tooutside of your comfort zone are all a part of the
make sure the outcome of that situation has beenprocess involved in business innovation.
allowed to develop in a way that will benefit the